Panoramic Capital Partners LLC Buys New Stake in ConocoPhillips (NYSE:COP)

Panoramic Capital Partners LLC purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel reports. The firm purchased 2,783 shares of the energy producer’s stock, valued at approximately $276,000.

Several other hedge funds also recently bought and sold shares of the stock. Arlington Trust Co LLC boosted its stake in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock valued at $857,000 after acquiring an additional 102 shares during the last quarter. Equitable Trust Co. lifted its holdings in ConocoPhillips by 22.9% in the 4th quarter. Equitable Trust Co. now owns 11,794 shares of the energy producer’s stock valued at $1,170,000 after purchasing an additional 2,199 shares in the last quarter. Bristlecone Advisors LLC boosted its stake in shares of ConocoPhillips by 5.7% during the 4th quarter. Bristlecone Advisors LLC now owns 7,663 shares of the energy producer’s stock worth $760,000 after purchasing an additional 410 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in shares of ConocoPhillips by 191.6% during the fourth quarter. Soltis Investment Advisors LLC now owns 41,046 shares of the energy producer’s stock worth $4,071,000 after buying an additional 26,970 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a research note on Monday. Finally, Susquehanna upped their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.72.

ConocoPhillips Stock Up 1.0 %

Shares of ConocoPhillips stock opened at $99.39 on Tuesday. The company has a fifty day moving average price of $101.05 and a 200 day moving average price of $106.11. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a market cap of $114.39 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Activity

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.